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551 'lit.; l Al, COUNC l L ~d]iE F ]NG <br /> <br /> COUN'IT OF ,&qOKA <br /> SI'ATE OF MINNESOTA <br /> <br /> meeting otl the R:,?nsey City Council was'held on October 117, 1978, <br />l~m~sey ?,llu}icipal Cc~tcr, ~5153 Now%hen Blvd. N.W., R;a~nsey, ?,lirmesota, <br /> <br />ca ll~,d 'co order by Co~ncilman Nuller at 6'45 P.M. <br /> <br />Cotmc5 lman Reimann <br />(~)unci 'i.m~tn gamec <br /> <br />Also Present' <br /> <br />City Attorney Goodrich <br />City Engineer R~atikka <br />City Administrator Schnelle <br /> <br />:'.~) or (]ox <br />(;ounc5 lman Mi cke] son <br /> <br />City Attorney Goodrich stated the sale of bonds notice had been published.' <br />in the City's of£icJal paper and in Commercial West, in the amount of <br />$3d5,0/10.00. lye had received £our bids prior to the October 17, 1978 <br />5:(/0 P.Iq. d~,.~dli~e. City Attorney Coodrich asked if there were any more <br />bids from the audience and-there were none. City Attorney Goodrich stated <br />at th~s time the City of Ramsey had been given a rating of Baa-1 which is <br />very good considering this is our first bond. <br /> <br />Co~:nc:ilm:m Mtn]let read t]~e bids and they are as follows: <br /> <br />A1]ison-Williarns Company interest rate of 5.9925% for~. <br />a total interest of $143,820.00 <br /> <br />First National Bank of Minneapolis' interest rate of ' <br />5.8651~5% for a total interest of $140,763.50: <br /> <br />Piper, Jaffray & Hopwood, Inc. interest rate of 5.7166% <br />for a total interest of $137,200.00 <br /> <br />~nerican National Bank and Trust Company of St. Paul, <br />Minnesota interest rate 5.5693% for a total interest <br />of $]33,665.50 <br /> <br />Motion by Councilmann ReimarLn and seconded by Councilman Muller to adopt <br />Resolution 78-27 to award the sale of $345,000.00 General Obligation Improve- <br />ment Bonds of 1.978; fixing their form and specifications; directing their <br />execution and delivery; and providing for their payment at an interest rate <br />of 5.5693%. Please refer to Resolution 78-27 for further details. <br /> <br />Motion carried. Voting yes Councilman Gamec, Councilman Reimann and <br />CouncJlmanMuller. Voting no None. <br /> <br />Motion by Councilman Gamec and seconded by Councilman ~ller to adjourn <br />the special meeting. <br /> <br />It was stated they did not need to adjourn as they could go right into the <br />next item of business. <br /> <br /> <br />